KUALA LUMPUR: Kossan Rubber Industries Bhd has proposed to acquire four hectares of industrial property in Kapar, Klang for RM40mil.

Kossan, in a filing with Bursa Malaysia today, said wholly owned Ideal Quality Sdn Bhd has entered into a deal with CB Industrial Product Holding Bhd to buy the property.

"The property adjoins IQ’s existing production facilities and the acquisition will enable IQ to expand its facilities without delay as all utilities such as water, electricity and natural gas supplies are available," it said.